FAQs: Stamping of Trust deeds

This article answers the most frequently asked question on NowInfinity's Trust deed stamping service.

 

Question Answer
What trust deeds are available for stamping with NowInfinity?
  • Discretionary Trust
  • Discretionary Trusts (Capital Reserved Lineal Descendant)
  • Discretionary Trusts (Fully Reserved Lineal Descendants)
  • Fixed Unit Trust
  • NSW Land tax Unit Trust
For what jurisdictions does NowInfinity offer stamping?

Stamping is only available for NSW and VIC.

Note: If the state is not VIC or NSW, the stamping tab will show but have a note to say it is not available for these states.

What is the cost of Stamping?

The total cost of stamping will include the relevant stamp duty payable for that state plus our stamping service fee:

  • The duty payable to Revenue NSW is $500 plus $10 for each additional duplicate deed stamped.
  • The stamp duty payable to VIC SRO (State Revenue Office) is $200 with no additional charge for duplicate deeds stamped.
  • The stamping service fee from NowInfinity is $66, inclusive of GST.
Do you stamp deeds that are not ordered through NowInfinity? No.
What is the default address for delivery of stamped deeds? If you have posted us the deeds to stamp, the stamped deeds will be sent to the primary address on your account. This same address used when you order hard copies of documents.
Can I change the delivery address for the stamped deeds? You can change the address by overwriting the information and using the Find Address functionality.
Do deeds the need to be wet signed originals for stamping?

VIC accept emailed versions.

NSW are moving to be digital also, however in the meantime we recommend deeds still be wet signed.

Does a particular colour pen need to be used for wet signing? Black or Blue pen should be used for wet signing.
Do the deeds need to be dated?

Yes.

What supporting documents do I need to provide NowInfinity to proceed with stamping?

FOR NSW:

  • If a individual trustee, a Certified ID. The certification must say, “I certify that I have sighted the original document and this is a true copy of it.”
  • If  a corporate trustee, we will confirm the company name and ACN through an ASIC National Names Index search. There is no need to send certified ID for a corporate trustees.

FOR VIC

  • A Stamp Duty Declaration signed and dated by the Trustee. You would have received this via email when you placed your order in NowInfinity.
Can I track the progress of my stamping order?

There is be a tracking number field similar to the one for hard copies pf the documents.

Our team will also update you with communications as they:

How long does the stamping process take?

For NSW:

  • Deeds will be stamped and returned via express post within 1-2 business days of receiving the signed deed. Unless the signed deed was emailed to us, and in this case you will receive an electronic copy back of the stamped deed.

For VIC:

  • Deeds will be stamped within 1-2 business days of receiving the signed deed. However, the stamped deed cannot be released until the VIC SRO provide the "certificate of duty", which can take up to 8 business days from stamping date. Once this is received the deed is returned via express post, unless the signed deed was emailed to us, and in this case you will receive an electronic copy back of the stamped deed.

 

NSW OSR (Office of State Revenue) provide a "duties statement" as soon as the deed is stamped, thus this process is expedited.

VIC SRO however provide a "certificate of duty" as proof the stamp duty has been paid. This can take up to 8 business days to be released. 

Is there a time-frame for having deeds stamped?

Under the law, you are required to pay stamp duty on trust deeds established in the following jurisdictions:

  • NSW - within 3 months of execution / signing the deed
  • VIC - within 30 days of execution / signing the deed
The deeds need to be stamped within the timeframe if you wish to NowInfinity's stamping service. If the deeds are not stamped within the above time-frames, interest or penalties will be imposed by the relevant state revenue offices.
NowInfinity is unable to calculate the interest or penalties on your behalf.
If the deeds are outside the timeframes shown above, you will need to contact the relevant revenue office to arrange stamping. 
How do I know my deed is stamped?
FOR VIC:
  • An official VIC SRO Certificate of Duty will confirm that the trust deed has been stamped.

 

For further information, you can refer to What to do if NowInfinity is Stamping your Deed

 

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